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On January 1, 2012, Will Company began construction of a new building for its own use. It was completed and put to productive use on
On January 1, 2012, Will Company began construction of a new building for its own use. It was completed and put to productive use on December 31, 2012. Will has a December 31 year-end. On January 1, 2012 Will borrowed $500,000 at 12% to help finance the construction, signing a one-year construction loan. In addition, Will had the following long-term debt outstanding throughout 2012. Compute capitalized interest for 2012:
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